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Chambana Sun

Monday, November 25, 2024

Former state university employee Wisniewski paid in $27K to pension fund, could collect $2.37M in retirement

Money 07

Former state university employee Lois Wisniewski, who retired in July 2017, saved $26,851 toward a pension over 12 years working for state universities, State Universities Retirement System of Illinois records show.

Over 30 years of retirement, Wisniewski would collect as much as $2.37 million, according to a projection by Local Government Information Services (LGIS), which publishes Chambana Sun.

The projection assumes Wisniewski received $49,719 in the first year of retirement, then 3 percent annual increases thereafter, compounded.

After 1 years of retirement, Wisniewski will have already received $49,719 in retirement benefits, or more than the sum total of the retiree's contributions to the state pension fund.

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